BP Shares Plummet

Share dealers will have seen an interesting morning this morning as BP share prices plummeted in early trade in the London session.

The oil company has received widespread condemnation for its part in the oil spill disaster in the Gulf of Mexico, which began on April 20th.  With anger and reprimands coming from the global community and led by those as prominent as US President Barack Obama, BP has a tough road ahead.  The UK’s reputation is also on the line, according to some.  As a British-based company, BP has drawn “anti-British rhetoric” from the US, says London mayor Boris Johnson.

This morning, BP shares fell to their lowest in 13 years before recovering slightly.  UK pensions are affected, given their heavy investment in the company.

Explore posts in the same categories: Barack Obama, Economy, Finance

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